Interest rate ETDs surge to second-highest level on record
Futures-led surge signals firmer views on rate direction
Exchange-traded interest rate derivatives climbed 10.1% in Q3 to $117.5 trillion, the second-highest level on record going back to 1993, figures from the Bank for International Settlements (BIS) show.
Most of the increase was driven by futures, which jumped 16.7% to $56.3 trillion. Options also advanced, though at a slower pace, ticking up 4.7% to $61.2 trillion.
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